Mainland stocks fall for first time in 3 days on fears rawmaterials will keep dropping
Chinese mainland stocks fell for the first time in three days, led by commodity producers, amid speculation raw-material prices will extend declines as a faltering economic rebound curbs demand.
The Shanghai Composite Index had slid 0.8 percent at the close. Jiangxi Copper Co and Angang Steel Co dropped at least 1.2 percent, while Yanzhou Coal Mining Co retreated the most in two weeks. The Hang Seng China Enterprises Index was little changed. Turnover slumped in Shanghai and Hong Kong.
Raw materials have been on a tumultuous ride this year after tentative signs of a demand revival in China ignited a firestorm of speculation. The frenzy led to a clampdown from regulators and exchanges, weakening prices once more, including for iron ore and steel.
